With the attention on the current account deficit issues and capital flow risks in EM, investors need to be able to monitor the big picture of this trend across a handful of currencies that each have their own unique macro drivers of performance, yet are considered core proxies for global EM investors.

In many cases these currencies are speculative targets because of their liquidity or because they are representative of the fundamentals confronting EM.

Here is a 6m chart of the EMFXB, followed by a 5 day chart to illustrate the current state of crisis across EM: